This coming quarter, the central bank of the country will start looking into two different potential cross-border CBDC settlement models. There are ongoing sanctions against Russia as a result of its invasion of Ukraine; however, reports indicate that Russia's central bank is about to begin developing a cross-border settlement system that will use a central bank digital currency (CBDC). According to a report that was published on January 9 by a local media outlet called Kommersant, the plans to move forward with Russia's digital ruble are expected to come in the first quarter of 2023. Russia's central bank will study two possible cross-border settlement models before moving forward with the plans. In the first version of the model that has been suggested, different countries will integrate their CBDC systems by entering into separate bilateral agreements with Russia. Each agreement would be crafted to ensure that the conversion and transfer of assets between the countries w...